Vesco and Druzhkivka Mine Administration will pay over UAH 1 bln in dividends
PJSC Vesco and PJSC Druzhkivka Mine Administration (Druzhkivka, Donetsk region) will pay UAH 795.6 million and UAH 204.8 million of dividends to shareholders in the period from December 22, 2017 to June 21, 2018.
According to a company report in the information disclosure system of the National Securities and Stock Market Commission, the shareholders made the corresponding decision at a meeting on December 21, 2017.
As reported, in November Vesco Limited (Cyprus) issued a public demand for the minority shareholders of PJSC Vesco and PJSC Druzhkivka Mine Administration about the squeeze-out. As of December 22, 2017, the Cypriot company owned 96.4% of PJSC Vesco and 99.2% in PJSC Druzhkivka Mine Administration.
According to the state register, the ultimate beneficiary of both companies is Rinat Akhmetov.
PJSC Vesco was established in 1994. The company is the largest enterprise in Ukraine for the open mining of clay with high plasticity, white color and strength after firing, used for the production of ceramic tiles, porcelain, faience, glass, crystal, electrical insulators, sanitary ware, bricks, and tiles.
PJSC Druzhkivka Mine Administration was founded in 1993. It specializes in extraction of ceramic and refractory clay for the production of refractories, as well as molding sand.